Few people really held out hope that Jeremy Corbyn would ride to the rescue of Theresa May, but what little chance there was of a workable compromise dissolved today as talks between the two parties broke down – adding to the frustrations of the British business world.

“If you have been enjoying the respite from incessant Brexit headlines over the past few weeks, I’m afraid it’s bad news,” says Andrew Wishart, UK economist at Capital Economics. He added:

Another failed Brexit vote, a change of prime minister and/or a general election would all reduce the likelihood of a Brexit deal being agreed by the 31st October deadline – the assumption our forecasts are based on. As such the chances of no deal or another delay have risen.